nm

$1.42/sqft, is that good, bad, indifferent? I don't know anything about commercial rents... just wondering.

Unless I'm missing something, that seems to be the cheapest rent I've ever heard of in OKC by a huge amount. Any new developments seem to be in the $20-30/sq ft range, depending on what part of town it's in. That's not including NNN.

Note that I'm no expert in commercial leading either

$20-$30 a foot for commercial space is the market rate in OKC for commercial space, but that's an annual rate. That $1.42 is monthly, plus whatever cut of profit is paid. I haven't priced retail space, but that seems high for a very low foot traffic location at the back of the complex.

Ok that makes more sense, as I didn't really read the article. So based on the numbers, we're looking at $17/sq ft, correct?

That's what I can figure.

I hope they're able to get this sorted out. It's the only store in town that stocks my shaving cream.

My issue as well. I might need to stock up on shaving cream next visit, too.

Is it really "waiting for the checks from the bank" and a rent dispute? I can get an image of any check (back and front) in 5 seconds by logging on to my bank's website, and even if you can't get that, you can see it in the transactions. Maybe commercial accounts are different, but it seems like a rent dispute for 2 months would be easy to solve in a day or two.

I use Carwin's Shave Shop quite often, so I would be a little upset if they went out of business.

Is it really "waiting for the checks from the bank" and a rent dispute? I can get an image of any check (back and front) in 5 seconds by logging on to my bank's website, and even if you can't get that, you can see it in the transactions. Maybe commercial accounts are different, but it seems like a rent dispute for 2 months would be easy to solve in a day or two.

I'm not sure, but my apartment in Oklahoma City sent my account to collections in October (Moved out to Oregon in May). It took me 2 months to get it all straightened out, I had to request notarized copies of my checks from my bank and mail them to the apartment complex AND the collections agency. I had 100% on time payments during my tenancy, and paid the move out charges the same day they were billed. Then without even calling me, they sent my account to collections because they never updated their payment program for the final charges check I cut the same day they billed it.

I can totally see how this could be a drawn out process for the tenant. Commercial landlords never seem to take any responsibility for their own mistakes and instead put all of the burden on the tenant to prove everything. Keep your receipts and I now deliver all checks in person and require someone from the management company to sign, initial, and date that they received my payment.

Because of their negligence in updating their payment software, it cost me a huge dip in my credit score in October-December. Even though it is now cleared from my credit profile, the huge dip still shows up. I guess the credit scores don't update previous scores when the mistakes were made, and it is only just now starting to slowly rise from it. I went from "Good" credit (702) to a 530 overnight when it hit, now I am only back up to a 623, and it is slowly climbing again. I am still supremely upset.

/End rant

^^^ Thanks for the info, I've had 2 experiences with late rent and they both went extremely well (both were the result of my online bill-pay being late, but it was the people sending the checks/payments that screwed up, not me) - one just needed cashier's checks for the next few months (in IL), then the most recent one I just contacted the bank, they refunded the late fee my landlord charged, and the landlord knew it was the bill-payer's fault, not mine, so they were cool with it and just let it go (in OK). I was just surprised when my experience was decent both times, and theirs (and yours) is apparently so horrible for something so seemingly simple to resolve.

What's ironic is, the day they cashed the check, was the same day they marked it for collections. It then took the collections agency 5 months to report it to the credit bureaus that I was "delinquent". If the complex would have called me first, or if the collections agency would have called as soon as they got it, I likely could have avoided the whole thing. But no one called for 5 months, and I got an email from my credit card saying they noticed a significant change in my credit score (they monitor every month and give me alerts). I logged in to see I went from 702 to a 530 (!!!! WTF !!!!) Delved deeper and found I had a delinquent account in collections. could have avoided that whole thing, and now I'm screwed for the next year while I slowly build my score back up to where it was even though there's no longer that delinquent account. Very, very frustrating, as I was actually saving up some money to buy a house in OKC whenever I come back. Their mistake and lack of communication may have cost me thousands in future interest by receiving a higher interest rate on a mortgage in my future.

Now that Glimcher has almost fully leased this center, they are planning to add multi-tenant space to the grassy area in the center of the complex.

They had been working with Ruth Chris steakhouse but I believe that deal fell out (or got moved to the new construction Glimcher plans north of Whole Foods) and this is now described as multi-tenant buildings, much like the rest of the center.



http://www.okctalk.com/images/pete/classencurve080316.jpg


http://www.okctalk.com/images/pete/classencurve080316b.jpg

When do they plan on starting construction?

Not sure.

No building permits filed yet.

Is the lawsuit still pending for the property north of Whole Foods? With both NHP and the Curve close to being fully leased and this addition announced, it would seem the next reasonable move would be to begin development on the north prop.

Is the lawsuit still pending for the property north of Whole Foods? With both NHP and the Curve close to being fully leased and this addition announced, it would seem the next reasonable move would be to begin development on the north prop.

Yes, still pending.

Robyn Assaf is an attorney who lives in Glenbrook and claims the City of OKC did not demand proper studies on traffic and other planning issues before providing re-zoning approval to Glimcher. Glimcher was initially named in the suit but has since been dismissed.

The City currently has a pending order to dismiss and a ruling should come soon. If the motion is denied, the litigation will continue.

The DOK has an article about Classen Curve trying to evict cafe 501 and Hb home furnishings. Any idea what their motive behind this is and what they plan to replace them with. I'd assume they would only evict if they already have something planned for their spots

The DOK has an article about Classen Curve trying to evict cafe 501 and Hb home furnishings. Any idea what their motive behind this is and what they plan to replace them with. I'd assume they would only evict if they already have something planned for their spots

They are both well behind on their rent.

When a company files a forcible entry and detainer action, it's usually not to evict the tenant but merely to gain a judgment against them for past rent.

In almost all cases, an agreement is struck before the tenants are actually forced out.

However, looks like BD Home has already gone out of business.

When did BD Home close? They've been there forever, I am surprised they've gone out of business.

Café 501, on the other hand, I have heard has been more successful. I am surprised they would be behind on their rent.

When did BD Home close? They've been there forever, I am surprised they've gone out of business.

Café 501, on the other hand, I have heard has been more successful. I am surprised they would be behind on their rent.

With the price of their food, you'd think they would be ahead on their rent! I do like that place though.

It's a pretty strange story. You don't usually hear about these kind of behind the scenes machinations in major media. Cafe 501 especially is strange as that is a part of a prominent, successful local restaurant group...

Simple guess: a lot of money was paid for this property, existing leases were favorable to tenants, now new owner is trying to squeeze more rent and NNN money out of tenants, or just try to force them out to make way for new higher paying tenants.

I can't understand the reasoning when retail landlords are unwilling to keep good tenats. Spring Creek in Edmond is a really nice area/spaces. But the rent continually goes up and retail people leave. How can you make money if you're only 50% occupied? Plus the public image that as a landlord you have no intention of keeping a tenant gives off bad vibes. It seems like greed over powers logic in these situations.

Yeah I'm not sure what the value is in pushing out a popular local restaurant like Cafe 501.

Simple guess: a lot of money was paid for this property, existing leases were favorable to tenants, now new owner is trying to squeeze more rent and NNN money out of tenants, or just try to force them out to make way for new higher paying tenants.

And Aubrey gave most of them a sweetheart deal.

Now, this place is being operated like a business, not an amenity for CHK employees.

It's a pretty strange story. You don't usually hear about these kind of behind the scenes machinations in major media. Cafe 501 especially is strange as that is a part of a prominent, successful local restaurant group...

Prominent, perhaps. Successful...I mean, not unsuccessful, but they also had a failed concept at the Myriad Gardens, and they have no ventures that are among names of restaurants that are constantly mentioned as a "must go". These days they seem to be a decent group that probably doesn't have much margin for error.

Not saying Cafe 501 is somehow "less than", but, to me, it's not the kind of concept that would be surprising if it closed...not like Empire or Cheever's or Fassler Hall.

A big part of this is Glimcher is going back and having their tenants pay their pro-rata share of common area maintenance, which they are contractually obligated to pay. In addition to the sweetheart rates they had, I'm sure the new owners are looking at both of these problems and realizing there need to be some changes made.

Speaking of sweetheart deal...

Aubrey (or I should say Chesapeake) paid Cafe 501 $652,000 for their tenant improvements.

To put that in perspective, their base rent is about $13K per month.

Looks like 501 is staying. http://newsok.com/article/5523403%3Futm_source=NewsOK.com%26utm_medium=Socia l%26utm_campaign=ShareBar-Facebook

Are those confirmed businesses? Because that would be OKC's first Urban Outfitters.

I can't see or open your attachment.

I would love to have Sur la Table in OKC. Not that I can really afford much in there, but I do love poking around their stores.

Fantastic if true. I'm still patiently waiting for REI to happen over that way.

Classen Curve teaser...

I love Bonobos! Granted, you can't purchase their stuff in stores, but still! They are an awesome men's clothing brand! OKC would be getting a bunch of stores before Tulsa with this little strip of stores!

I know Vineyard Vines sells more than just t-shirts but that's what they're popular for in my kids' school. They charge close to 50 bucks for t-shirts with a whale on it. I don't get it. It's just a shirt. They're kind of the same style as the OP (Ocean Pacific) shirts that were popular when I was in school.

Any way, I figure they'll be successful there.

Classen Curve teaser...

Where did this come from?? If all these are really coming to CC then that's a huge get for both the developer and OKC.

Most of these are national chains, a couple are regional, and of course all are upscale. None are in Oklahoma City as of now; only one, Runway 7, is in the metro (Edmond); and as far as I can tell only two of these, Athleta and UO, are in Tulsa.

The saga continues....

http://newsok.com/article/5537221?utm_source=NewsOK.com&utm_medium=Social&utm_campaign=NIC-Facebook

I think I'm missing something. Is there a post or attachment I'm not seeing from the 16th? What info is everyone referencing?

I think I'm missing something. Is there a post or attachment I'm not seeing from the 16th? What info is everyone referencing?

I deleted it at the request of the poster.

The saga continues....

http://newsok.com/article/5537221?utm_source=NewsOK.com&utm_medium=Social&utm_campaign=NIC-Facebook

At some point, is the developer not just going to walk away because of all this nonsense on Assaf's part? I'd be working with them to make sure what she gets is as nice as possible.

At some point, is the developer not just going to walk away because of all this nonsense on Assaf's part? I'd be working with them to make sure what she gets is as nice as possible.

No, they are not going to walk away as they own the land and have spent a ton developing the properties to the north and south.

Just an annoyance that might delay the project somewhat.

The saga continues....

http://newsok.com/article/5537221?utm_source=NewsOK.com&utm_medium=Social&utm_campaign=NIC-Facebook

I don't understand why so many remain this opposed to this development considering its quality and location.

The saga continues....

http://newsok.com/article/5537221?utm_source=NewsOK.com&utm_medium=Social&utm_campaign=NIC-Facebook

Good lord... This NIMBY needs to get a hobby other than suing people... I'm not getting any younger, lady! I would kinda like to enjoy this development before I die.

I don't understand why so many remain this opposed to this development considering its quality and location.

There aren't many who do. Just this person who definitely does not represent the feeling in Glenbrook, NH or any area close. There are always people who love to try to control things. They just wind up costing people time, money and brain cells.

What is under construction in the area near Upper Crust? Is this the Ruths Chris Steak House? I wouldn't imagine this land is part of the lawsuit?

What is under construction in the area near Upper Crust? Is this the Ruths Chris Steak House? I wouldn't imagine this land is part of the lawsuit?

Just more retail space. No restaurants.

And the lawsuit was for the area just south of 63rd where they are planning an REI and a bunch of apartments.

Just more retail space. No restaurants.

And the lawsuit was for the area just south of 63rd where they are planning an REI and a bunch of apartments.

any ideas of who might go into the retail space? we went to Upper crust tonight and parking is a mess

any ideas of who might go into the retail space? we went to Upper crust tonight and parking is a mess

By being a mess, does that mean you had to walk over 150 feet? There is plenty of parking, just not at the front door.

By being a mess, does that mean you had to walk over 150 feet? There is plenty of parking, just not at the front door.

By mess i mean over half the parking lot is torn up behind a chain link fence, the parking lot is now only 1 way confusing multiple drivers and people having to dodge cars in the parking lot who are confused as to what is going on

Cos Bar is going in a space next to Rye 51 and Black Optical.

First location in Oklahoma. Most other locations in very high end areas: Highland Park (Dallas), Montecito (Santa Barbara), Vail, Apsen, Scottsdale, Carmel, Newport Beach, etc.

https://www.cosbar.com

Dallas isn't listed. There is one in The Woodlands. Are we getting something before Dallas?! I'm shocked!

Dallas isn't listed. There is one in The Woodlands. Are we getting something before Dallas?! I'm shocked!

Highland Park which is a suburb of Dallas.

Highland Park which is a suburb of Dallas.

Website says Highland Park, IL.

Website says Highland Park, IL.

Oops! Thanks for the correction.

Two building permits for a total of $3.3 million for 5846 and 5854 N Classen, which falls into the Classen Curve area. I assume these are the new structures across from Upper Crust and that area?

Two building permits for a total of $3.3 million for 5846 and 5854 N Classen, which falls into the Classen Curve area. I assume these are the new structures across from Upper Crust and that area?

Yes.

Too bad these new spaces didn't add residential on top of the shops. With Whole Foods across the street, Classen Curve could have been a pretty cool mixed use community for residents. I know residential is coming to the area though...

Press release today announcing several new tenants to go into the space now under construction:



Washington Prime Group Announces Latest Redevelopment Project with Expansion at Classen Curve

Business Wire Business WireMay 2, 2017
COLUMBUS, Ohio--(BUSINESS WIRE)--

Washington Prime Group Inc. (WPG) today announced its most recent redevelopment effort, a multitenant expansion at Classen Curve located in Oklahoma City, OK. The $11.5M expansion, which will add approximately 30,000 SF to an already vibrant lifestyle center, is expected to open in two phases starting the fourth quarter of 2017.

Lou Conforti, CEO and Director: “As previously discussed, our objective is to deliver on value enhancing redevelopment opportunities which result in differentiated tenancy. We currently have more than 45 projects ranging between $1-$60M substantiating our $125-$150M of annual capital spend with an average estimated project yield of 9.5%.”

As part of the expansion, Classen Curve will welcome first-to-market Athleta, Evereve and Soft Surroundings, as well as Board Room Salon for Men and Francesca’s. Apart from the expansion, the Company is pleased to announce that Bassett Furniture and first-to-state Cos Bar will join the dynamic retail offerings at the center.

David Allsbrooks, General Manager of Classen Curve: “We are excited for the expansion at Classen Curve which demonstrates our commitment to our guests and Oklahoma City. The center continues to grow, bringing unique national and local retailers and restaurants. This project allows us to expand upon our already diverse merchandise mix, solidifying Classen Curve as the premiere lifestyle destination in heart of Oklahoma City.”

Recent openings at Classen Curve include Cycle Bar, Lily Rain and Rustic Cuff.

Some transactions from the Oklahoman today:

Gloss Nail Salon leased 2,197 square feet at Nichols Hills Plaza. Laci Jackson Ravina represented the landlord and Danny Ojeda with Newmark Grubb Levy Strange Beffort represented the tenant.
•Lash by Lash leased 1,500 square feet at Nichols Hills Plaza. Ravina represented the landlord.
•Winter House Interiors & Carwin's Shave Shop leased 4,976 square feet at Nichols Hills Plaza. Ravina represented the landlord and Amy Dunn with CBRE represented the tenant.
•Bassett Furniture leased 9,570 square feet at Classen Curve. Ravina represented the landlord.
•Cos Bar leased 1,326 square feet at Classen Curve. Ravina represented the landlord.
•Athleta leased 3,450 square feet at Classen Curve. Ravina represented the landlord.
•Soft Surroundings leased 4,200 square feet at Classen Curve. Ravina represented the landlord.
•Boardroom Men's Salon leased 1,800 square feet at Classen Curve. Ravina represented the landlord.
•Evereve leased 2,308 square feet at Classen Curve. Ravina represented the landlord.
•Francesca's leased 1,343 square feet at Classen Curve. Ravina represented the landlord.